Boomerang Blog

Don’t Leave Your Company’s Money On The Table

Date04 Jul 2025

Comment0

Is your company leaving Its money on the table? In today’s intricate corporate world, managing unclaimed property—like old payroll checks, vendor payments, or customer credits—is a significant challenge. With each U.S. state having its own unique and ever-changing laws, businesses face a complex compliance burden that can lead to fines and missed opportunities. Many companies struggle with the time, personnel, and specialized knowledge required to effectively track and recover these assets in-house. The Recovery Maze: Why Companies Struggle While states hold billions, recovering your own company’s escheated property is fraught with challenges: Varying State Laws: Each state has different rules...

Outsourcing the Recovery of Your Unclaimed Property

Date04 Sep 2024

Comment0

Benefits of Outsourcing Asset Recovery Unclaimed property—such as forgotten bank accounts, uncashed checks, refunds or abandoned safe deposit boxes—poses challenges for businesses. Outsourcing the recovery process can be a strategic decision, and here’s why ROI matters: Cost Efficiency: Outsourcing allows companies to tap into specialized expertise without maintaining an in-house team and investing in requisite technologies and data. The cost of hiring, training, and managing staff is often higher than contingent outsourcing fees which are proportional to the value of the assets recovered, ensuring a win-win for everyone. Focus on Core Competencies: By outsourcing, organizations free up internal resources to...

Winning the Name Game in Asset Recovery

Date29 Oct 2023

Comment0

The purpose of any corporate asset recovery effort is to locate and retrieve all unclaimed property that is associated with a given company’s name. For that reason, a successful asset recovery might just be the ultimate answer for the age-old question, “What’s in a name?” But sometimes the unique characteristics of a company’s name can create a challenge when attempting to locate its assets through conventional approaches. Sometimes a name can get in its own way. Any corporate entity with a “complex” name commonly prone to spelling anomalies is especially at risk of having difficult-to-locate unclaimed property. Consider for example...

The Argument for Outsourcing Asset Recovery

Date09 Oct 2023

Comment0

It’s not unusual for a company to outsource their asset recovery efforts only after having first attempted and failed to do it on their own. These in-house recovery initiatives always begin with the best of intentions. Typically, one or more people within the organization are grouped into a recovery team, armed with little more than the URL of a popular lost property website as their primary tool. In a short time, they discover how limited the search functions of these on-line property locators can be, leading to frustration and a noticeable lack of results. Maybe it shouldn’t be a surprise...

Boomerang’s 5 Advantages Over In-House Asset Recovery

Date26 Mar 2023

Comment0

It is not an uncommon occurrence for a company to approach Boomerang Asset Recovery after having attempted to manage their own in-house unclaimed property recovery efforts. While their individual motivations for making such a switch can vary, our clients tend to universally cite 5 key advantages that partnering with us makes possible: Our Search is Wider: In-house recovery efforts typically focus entirely on the state-held properties that can be found on individual and aggregated state web sites. Boomerang’s own database also possesses these very same state records. However, we extend our reach by also including the updated property listings from...

Categories

Tags